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Foreign investors pledge nearly $8.9bn to Vietnam in Jan-Apr

Foreign investors pledge nearly $8.9bn to Vietnam in Jan-Apr

Tuesday, April 25, 2023, 11:14 GMT+7
Foreign investors pledge nearly $8.9bn to Vietnam in Jan-Apr
A Foxconn factory in Bac Giang Province in northern Vietnam. Photo: Bao Ngoc / Tuoi Tre

Vietnam had attracted nearly US$8.9 billion in foreign investment by April 20, equal to 82.1 percent of the figure in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Some $5.85 billion of the foreign investment was disbursed in the four-month period, inching down 1.2 percent year on year.

These are positive signals amid the foreign investment volatility when many developed countries, which pour a high amount of investment into others, will levy a global minimum tax rate of 15 percent on multinational groups with global revenue of over 750 million euros ($829.3 million) late this year.

As of April 20, Vietnam had had around 37,100 operational foreign-invested projects with a total registered capital of nearly $445.9 billion.

Of the total, more than $279.8 billion has been disbursed, or 62.8 percent of the registered amount. 

In the first four months of this year, foreign investors registered to inject over $4.1 billion into 750 new projects.

The period also saw 386 operational foreign direct investment projects revise up their investment by a total of nearly $1.66 billion.

Foreign investors also conducted around 1,000 transactions to contribute funds and acquire shares in local firms with total capital of $3.1 billion.

They poured capital into 18 out of 21 national economic industries in Vietnam, with the processing and manufacturing sector taking the lead in investment capital at $5.1 billion, accounting for 57.8 percent of the total registered capital.

The finance and banking sector came second with over $1.5 billion, representing 17 percent of the total, followed by the real estate sector with nearly $972 million.

As many as 77 countries and territories invested in Vietnam in the four-month period. 

Singapore was the biggest investor of Vietnam with nearly $2.2 billion, followed by Japan with some $2 billion and China with nearly $752 million.

However, South Korea ranked first in terms of the number of new projects and operational projects with revised investment.

Foreign investors pledged investments in 46 cities and provinces in Vietnam with Hanoi being the largest recipient of foreign investment, at more than $1.1 billion.

The capital city was followed by northern Bac Giang Province with over $1 billion, Ho Chi Minh City and its two neighbors--Binh Duong and Dong Nai Provinces.

Ho Chi Minh City attracted the most foreign-invested projects in January-April.

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Thanh Ha - Bao Ngoc / Tuoi Tre News

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